Traders Buy AT&T Inc. (T) on Weakness
Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Tuesday. $112.91 million flowed into the stock on the tick-up and $80.46 million flowed out of the stock on the tick-down, for a money net flow of $32.45 million into the stock. Of all stocks tracked, AT&T had the 26th highest net in-flow for the day. AT&T traded down ($0.16) for the day and closed at $38.36
Several analysts have recently issued reports on the company. Royal Bank Of Canada set a $42.00 price objective on AT&T and gave the company a “hold” rating in a research note on Saturday, May 20th. Vetr cut AT&T from a “strong-buy” rating to a “buy” rating and set a $40.69 price objective on the stock. in a research note on Wednesday, July 26th. Cowen and Company reiterated a “market perform” rating and issued a $41.00 price objective (down from $43.00) on shares of AT&T in a research note on Wednesday, July 26th. Drexel Hamilton reissued a “hold” rating on shares of AT&T in a report on Friday, June 2nd. Finally, BidaskClub raised AT&T from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, twenty have given a hold rating and eleven have assigned a buy rating to the company’s stock. AT&T presently has an average rating of “Hold” and an average target price of $43.40.
The stock has a 50-day moving average price of $37.65 and a 200-day moving average price of $39.78. The company has a market cap of $235.53 billion, a PE ratio of 18.10 and a beta of 0.47.
AT&T (NYSE:T) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The business had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post $2.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date was Thursday, July 6th. AT&T’s dividend payout ratio is presently 92.45%.
Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in AT&T during the fourth quarter valued at approximately $2,416,759,000. Legal & General Group Plc boosted its position in AT&T by 2.4% in the second quarter. Legal & General Group Plc now owns 37,455,113 shares of the technology company’s stock valued at $1,413,168,000 after buying an additional 871,489 shares during the period. Federated Investors Inc. PA boosted its position in AT&T by 1.9% in the second quarter. Federated Investors Inc. PA now owns 27,755,602 shares of the technology company’s stock valued at $1,047,219,000 after buying an additional 519,189 shares during the period. Schwab Charles Investment Management Inc. boosted its position in AT&T by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 23,368,641 shares of the technology company’s stock valued at $881,699,000 after buying an additional 1,011,014 shares during the period. Finally, Macquarie Group Ltd. boosted its position in AT&T by 6.1% in the fourth quarter. Macquarie Group Ltd. now owns 19,837,884 shares of the technology company’s stock valued at $843,705,000 after buying an additional 1,139,382 shares during the period. 55.28% of the stock is owned by institutional investors and hedge funds.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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